New Delhi, June 05, 2017: Eli Lilly (LLY) and Amgen (AMGN) stocks got a boost Wednesday after rival Teva Pharmaceutical (TEVA) unveiled strong results of a Phase 3 trial in treating chronic migraines.
On the stock market today, Lilly stock rose 1.6% to 79.57. Lilly, however, also benefited from a strong late-stage trial in advanced bladder cancer. Meanwhile, Amgen stock popped 0.9% to 155.24.
But shares of Alder Biopharmaceuticals (ALDR), another player in migraine treatments, fell 4.05% to 15.40. Teva, which conducted the results, edged up 0.1% to 27.86.
All four are working on anti-calcitonin gene-related peptides, known as anti-CGRPs, to tackle migraines. Mounting evidence has linked an increase in CGRPs to the onset of a migraine. Knocking down CGRPs is thought to prevent migraines.
Teva is aiming to reduce migraines over monthly and quarterly periods with its drug known as fremanezumab. Alder already has a quarterly infusion for migraines. This could be important for competitive positioning, Evercore analyst Umer Raffat said.
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“Amgen and Lilly never developed their antibodies for quarterly dosing,” he said. “Recall (that the drug from) Teva also has a longer half-life than all competitors.”
The half-life is how long it takes for the amount of drug in the body to be reduced by 50%.
In a Phase 3 study of patients with chronic migraines, Teva’s drug cut monthly headache days of at least moderate severity by 4.6 days. Over a quarter, the drug reduced headache days by 4.3 days.
But making an apples-to-apples comparison is difficult, Raffat wrote in a note to clients. In a separate study of chronic migraine patients, Lilly’s drug showed a 2.7-day reduction in monthly migraine days, not just moderate to severe headaches.
Investors.com
